Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 28, 2014 |
referred to small business delivered to assembly passed senate |
May 14, 2014 |
advanced to third reading |
May 13, 2014 |
2nd report cal. |
May 12, 2014 |
1st report cal.604 |
Mar 28, 2014 |
print number 4878a |
Mar 28, 2014 |
amend and recommit to corporations, authorities and commissions |
Jan 08, 2014 |
referred to corporations, authorities and commissions |
Apr 29, 2013 |
referred to corporations, authorities and commissions |
Senate Bill S4878A
2013-2014 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2013-S4878 - Details
2013-S4878 - Sponsor Memo
BILL NUMBER:S4878 TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to requiring the small business revolving loan fund to issue a certain percentage of its remaining principal or further appropriations to micro loans and micro seed loans PURPOSE: The purpose of this bill is to increase micro loans and micro seed loans from existing and future funds in the small business revolving loan fund. SUMMARY OF PROVISIONS: Section 1 amends Subdivision 3 of section 16-t. of section 1 of chapter 174 of the laws of 1968 as added by section 1 of part N of chapter 59 of the laws of 2010 by creating a new category of loan, micro seed loans, that have a principal amount less than five thousand dollars; making the definition of micro loans consistent; requiring that not less than fifteen percent of any remaining principal or further appropriation to the small business revolving loan fund shall be set aside for micro loans and not less than five percent of any remaining principal or further appropriation to the small business revolving loan fund shall be set aside for micro seed loans. JUSTIFICATION: The small business revolving loan fund is meant to provide loans to small and micro businesses that need capital and have
2013-S4878 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4878 2013-2014 Regular Sessions I N S E N A T E April 29, 2013 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the New York state urban development corporation act, in relation to requiring the small business revolving loan fund to issue a certain percentage of its remaining principal or further appropri- ations to micro loans and micro seed loans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 16-t of section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, as amended by section 1 of part II of chapter 59 of the laws of 2013, is amended to read as follows: 3. Program loans to small businesses shall be targeted and marketed to minority and women-owned enterprises and other small businesses that are having difficulty accessing traditional credit markets. Program loans to small businesses shall be used for the creation and retention of jobs, as defined by the corporation, including: (a) working capital; (b) the acquisition and/or improvement of real property; (c) the acquisition of machinery and equipment, property or improvement; or (d) the refinancing of debt obligations. There shall be [two] THREE categories of loans to small businesses: A MICRO SEED LOAN THAT SHALL HAVE A PRINCIPAL AMOUNT LESS THAN FIVE THOUSAND DOLLARS; a micro loan that shall have a princi- pal amount [that is] NOT LESS THAN FIVE THOUSAND DOLLARS AND less than twenty-five thousand dollars; and a regular loan that shall have a prin- cipal amount not less than twenty-five thousand dollars. Minority- and women-owned business enterprises and other small businesses who access such program loans under this subdivision shall not be precluded from accessing such short-term financing loans provided under subdivision eleven of this section THE CORPORATION SHALL PROVIDE THAT NOT LESS THAN FIFTEEN PERCENT OF ANY REMAINING PRINCIPAL OR FURTHER APPROPRIATION OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01898-02-3
co-Sponsors
(D, WF) Senate District
2013-S4878A (ACTIVE) - Details
2013-S4878A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4878A TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to requiring the small business revolving loan fund to issue a certain percentage of its remaining principal or further appropriations to micro loans and micro seed loans PURPOSE: The purpose of this bill is to increase micro loans and micro seed loans from existing and future funds in the small business revolving loan fund. SUMMARY OF PROVISIONS: Section 1 amends Subdivision 3 of section 16-t of section 1 of chapter 174 of the laws of 1968 as added by section 1 of part N of chapter 59 of the laws of 2010 by creating a new category of loan, micro seed loans, that have a principal amount less than five thousand dollars; making the definition of micro loans consistent; requiring that not less than fifteen percent of any remaining principal or further appropriation to the small business revolving loan fund shall be set aside for micro loans and not less than five percent of any remaining principal or further appropriation to the small business revolving loan fund shall be set aside for micro seed loans. JUSTIFICATION: The small business revolving loan fund is meant to provide loans to small and micro businesses that need capital and have
2013-S4878A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4878--A 2013-2014 Regular Sessions I N S E N A T E April 29, 2013 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- recommitted to the Committee on Corporations, Authorities and Commissions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the New York state urban development corporation act, in relation to requiring the small business revolving loan fund to issue a certain percentage of its remaining principal or further appropri- ations to micro loans and micro seed loans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 16-t of section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, as amended by section 1 of part II of chapter 59 of the laws of 2013, is amended to read as follows: 3. Program loans to small businesses shall be targeted and marketed to minority and women-owned enterprises and other small businesses that are having difficulty accessing traditional credit markets. Program loans to small businesses shall be used for the creation and retention of jobs, as defined by the corporation, including: (a) working capital; (b) the acquisition and/or improvement of real property; (c) the acquisition of machinery and equipment, property or improvement; or (d) the refinancing of debt obligations. There shall be [two] THREE categories of loans to small businesses: A MICRO SEED LOAN THAT SHALL HAVE A PRINCIPAL AMOUNT LESS THAN FIVE THOUSAND DOLLARS; a micro loan that shall have a princi- pal amount [that is] NOT LESS THAN FIVE THOUSAND DOLLARS AND less than twenty-five thousand dollars; and a regular loan that shall have a prin- cipal amount not less than twenty-five thousand dollars. THE CORPO- RATION SHALL PROVIDE THAT NOT LESS THAN FIFTEEN PERCENT OF ANY REMAINING PRINCIPAL OR FURTHER APPROPRIATION OF THE FUND ON OR AFTER JULY FIRST, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01898-04-4
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